Official Text and Analysis.

(1) Changes references to "homeowners' associations" back to "qualified tenant organizations," which is the term used in current law. (2) Strikes the requirement that a landlord provide a written notice of opportunity to purchase within 3 days after receipt of a bona fide offer to purchase (leaving intact the requirement that a landlord provide a written notice of opportunity to purchase within 14 days after the date on which any advertisement, listing, or public notice is first made regarding sale or lease). (3) Requires that a written notice of opportunity to purchase include a signed affidavit that discloses the advertised or listed selling price. (4) Reduces the number of days that a landlord in receipt of a notice of intent must wait to make a final unconditional acceptance of an offer from 120 days to 90 days.